Which of the following phrases best mirrors President Obama’s 2015 budget proposal reason for including and passing Section 831 within the BBA 2015?A. to prevent duplicative or excessive Social Security benefit paymentsB. to provide more Americans with the opportunity to get more Social Security paymentsC. to provide non-wage earning spouses ways to get more Security paymentsD. to reduce excessive payments on widows (ers) benefits

Section 831 of the Bipartisan Budget Act of 2015 addresses which of the following?A. How someone’s full retirement benefit is calculated based on his/her earnings historyB. The Department of Defense spending budgetC. Phase out of the file-and-suspend and restricted application Social Security claiming strategiesD. Section 831 helps wealthy people get more Social Security income

Section 831 of the BBA 2015 phases out which of the following over time?A. Use of the restricted application to obtain spousal income while delaying own retirement benefitB. Application of the file-and-suspend strategyC. Strategies for couples and divorced retirees to potentially get more Social Security incomeD. All of the above are correct

How many, and which years of earnings are used to calculate the Social Security Benefit?A. 35 years of your most recent earnings B. 30 years of your highest earnings C. 35 years of your highest earningsD. 30 years of your most recent earnings

If you file for Social Security and start collecting benefits, but then feel you have made a mistake, how long do you have to withdraw your application and pay the benefits back?A. 2 yearsB. 5 years C. 1 yearD. 3 years

If divorced, what is the minimum amount of years you must have been married to collect an ex-spousal benefit?A. 5 yearsB. 2 yearsC. 10 yearsD. 12 years

When were Social Security income benefits first taxed and by how much?A. 1994, up to 85% could be taxedB. 1983, up to 50% could be taxedC. 1983, up to 85% could be taxedD. 1994, up to 50% could be taxed

Which of the following are not impacted by Section 831 of the BBA 2015?A. Phase out of the file-and-suspend strategyB. Phase out of the restricted application (for spousal benefit)C. Widow(er) benefits and claiming strategiesD. Divorced benefits and claiming strategies

With respect to the BBA 2015, which of the following are correct age(s) and dates for phase out triggers of the two Social Security claiming techniques?A. Age 66 by April 29, 2016 for file-and-suspend benefitsB. Age 62 by end of December 2015 for use of restricted application for spousal benefitC. Age 62 by April 29, 2016 for use of restricted application for spousal benefitD. Both A and B

The file-and-suspend claiming strategyA. Will no longer be available to retirees who are younger than 66 by April 29, 2016.B. Is a claiming strategy that allows couples to collect spousal Social Security income while allowing their own retirement benefit to increase due to delayed retirement credits.C. Was first used after passage of the Senior Citizens Freedom to Work Act of 2000.D. All of the above